A freight forwarding software should be able to provide the analytics to boost sales
Business today has started understanding the key advantage of data collection and hence, has become increasingly data-driven. With the growing use of cloud computing, artificial intelligence and machine learning using data for their competitive advantage will keep growing. Hence it has become of utmost importance to implement a state of the art freight forwarding software for your logistics operations. There is so much data that is collected via multiple platforms that just by harvesting and analyzing it can provide key insights into the profitability and efficiency of the business operations and its contribution to the overall growth.
As it applies to most businesses even freight forwarding requires the management to acquire key insights into the performance metrics to make strategic planning and implementations.
Some of the most critical performance metrics are lead generation, conversion rates as well as sales volume that includes profits. It is not easy to track, store and analyzing these key performance indicators from a huge data set as this will involve huge human resources. This is considered to be practically impossible and hence the need of the hour is to have sophisticated software to automate the process of collecting, storing, tracking and analyzing the KPI’s. We must have good freight forwarding software to give us key insights into the various metric collected from the data that will help in enhancing business development.
CONSISTENT LEAD GENERATION FOR BUSINESS GROWTH:
It is imperative to say that if a business needs to grow then there should be a consistent flow of new leads. But one has to evaluate the methods to generate leads and also check if these leads are of high quality. That’s not all businesses have also got a follow-up plan for the leads.
A good freight forwarding software will provide automated tracking of leads features that will help users to fetch accurate reports pertaining to the effectiveness of the sales force in closing leads. The sales manager can use these reports to deep further into the sales funnel and to make strategic changes in sales plans. It can also help in tracking key KPI’s like quotations, conversions, new customers and return customers.
ANALYZE THE SALES VOLUMES:
It is the customer behavior that will enable managers to focus their efforts to get desired results. So it is very important to understand which services are the most popular and in-demand with the customers. Also, it is important to identify which are the most important cargo traffic origins and destinations with the most activity. A freight forwarding software will help in tracking such critical pieces of information and data points. It will help managers to create customized insight reports regarding the sales volumes and analyzing the most productive routes.
CHECK THE SALES FUNNEL:
For any sales department understanding the sales funnel to show the conversion rates at various levels of the sales process. It gives a better insight into the potential customers purchasing journey and where there is a customer fall out in the sales process. This will help the sales department to identify the areas where it needs to give more attention.
A freight forwarding software can automate the tracking of such valuable information. Based on the analysis of these key metrics it can evaluate the various bottlenecks that occur in the sales process.
UNDERSTAND YOUR PROFIT PER CLIENTS:
This is another key area that can influence management decisions. Understanding the profit per client can provide very important insights to know where the resources need to be concentrated. It will help the management to track and identify the factors and key elements that drive profitability.
Freight forwarding is one such industry that constantly needs to analyze the flow of transportation and daily requirements. Analytics plays a vital role and hence having a full-fledged software that can collect and analyze data in real-time is absolutely necessary for assuring consistent growth.